JOURNAL
CHECK YOUR REBUILD COSTS
THE CONSEQUENCES OF UNDERINSURANCE CAN BE CATASTROPHIC FOR HOMEOWNERS.
In August 2023, during Storm Antoni, I received a panicked call from my sister-in-law Yvonne that her home in Clontarf had flooded. That morning between 53mm and 62mm of rain had fallen in the area. This equates to around 25 days of rain, which fell in a nine-hour period. The water initially entered Yvonne’s property through the ground floor toilet and then through the front door. The flood waters had risen to about 500mm above finished floor level and she had to be helped out of the property by the fire brigade. When the flood waters receded, I was able meet Yvonne at the property. She was of the view that as there was a “small” amount of water for a “short” period of time in the property, and that she would simply be able to mop up and re-occupy the property. I had to inform her that when flood waters enter any property, it is essential that all elements touched by it are stripped out. If left, kitchen units will inevitably swell and warp, and plaster will fail. It was a devastating reality check that she would be out of her property for a number of months.
Underinsured
A further and worse realisation was to come, when she discovered that due to hyperinflation of construction costs, she was underinsured.
I recommended a competent loss assessor, Mr Trevor Kelly, a Chartered Building Surveyor from Insurance Claims Solutions who, along with his colleague John Holland, were able to assist Yvonne through the process, and ensure that she had adequate representation while engaging with her insurance company. This was a painful
PRESIDENT’S MESSAGE
Kevin Hollingsworth SCSI President
lesson and required use of her hard-earned savings to bridge the gap to reinstate her property.
The ‘average’ clause is the mechanism by which insurers reduce the amount they pay out in the event of any level of underinsurance. It is a very punitive mechanism. A simple example of how the average clause works is:
n actual rebuilding cost of property is €200,000; n sum insured was €100,000 – property is underinsured;
n a genuine claim for damage, covered under the policy, of €90,000 is made; and,
n insurance company pay-out would only be €45,000 as the policy holder was 50% underinsured.
Always make sure your building is insured for the correct rebuilding costs. The onus is solely on the policy holder to maintain an accurate sum of insurance.
With the upcoming launch of the SCSI’s House Rebuild Cost Calculator, it is a pertinent time for all members to ensure that their home is adequately insured, and to remind family, friends and loved ones to do the same.
You don’t even have to wait for your renewal: just check against the rebuild calculator and update your insurance company. Any cost of increasing your cover is negligible against the penalty you will pay for underinsurance. Stand-alone, unique or protected properties should have full reinstatement cost assessments undertaken by a Chartered Building Surveyor or Chartered Quantity Surveyor. A directory of members providing this service is available at scsi.ie/calculator along with the calculator.
THE DILEMMA OF RENT CONTROL
THIS EDITION ADDRESSES ONE OF THE MORE CONTROVERSIAL ISSUES IN HOUSING POLICY.
Housing continues to be an important challenge facing the State. Not surprisingly, therefore, features and articles looking at aspects of housing appear frequently in the Surveyors Journal. Often written by surveyors, researchers and market practitioners with wide and deep experience of various aspects of the housing system, these articles help fellow surveyors and policymakers understand the issues and the complexity of markets within the system. They also provide reliable market information, which should help insight. Many housing issues, however, are contested, and perhaps none more so than rent control and the involvement of larger and institutional landlords in housing markets. These issues are often poorly understood and complex. Arguments in favour of rent controls cite the necessity of helping vulnerable renters afford their accommodation. Also crucial is protection from eviction and homelessness in a market where accommodation is not only very highly priced, but can be very difficult to find. This can be particularly acute given the short time an evicted tenant has to find alternative accommodation where shortages exist, with a consequence of the trauma of being without a home even for a short time. Arguments against cite longstanding economic research pointing to the damage done to supply, and suggest that such controls make the problem worse.
In this vein, the article by Colin Richardson, Head of Research at CBRE (page 19), looking at the opportunity cost of rent controls is a thought-provoking contribution to the discourse about rent controls and institutional investment. Noting that just one forward-structured residential investment transaction has been originated in the Irish market since the start of 2023, he says that the key underlying reason for this is centred around Irish rent control policy. Colin says that in the context of interest rate cuts there is a need to assess this policy. Many would agree, and this article should help greatly to understand the issues involved.
EDITORIAL
Tom Dunne Editor
HOUSE SALES DROPPING ACROSS EU
The number of homes being sold dropped in 13 EU countries last year, with increases in just Denmark, Ireland, Poland and Cyprus.
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Increase/decrease in house sales transactions in different EU countries
Source: https://ec.europa.eu/eurostat/databrowser/view/prc_hpi_hsna/defaul t/table?lang=en.
NOMINATE YOURSELF, A FELLOW MEMBER OR YOUR TEAM
Nominations are now open for the 2024 Surveying Excellence Awards. TheAwards recognise the significant contribution of surveying professionals to every stage of the life cycle of buildings. Nominate yourself, your team or another member for one of the awards including:
Individual awards
n Sustainable Champion Award
n Elevate Award – Championing Women in Surveying
n Young Surveyor of the Year Award
Organisation or team awards
n Community Development Award
n Best Integrated Approach to a Project Award
n Innovation Award
Academic Awards
n Undergraduate Dissertation Award
n Postgraduate Dissertation Award
President’s Award for Outstanding Contribution
Nominate yourself, your firm or your fellow members before the closing date on October 24. The Awards will be presented at this year’s National Conference on November 20. Visit scsi.ie/awards to enter your nomination.
2024 SCSI/IRISH TIMES TENNIS TOURNAMENT
It was fantastic to have 10 teams take part in the SCSI/Irish Times Annual Tennis Tournament. Congratulations to the winning team from Independent Valuations and the runner-up team from Hooke & MacDonald. Our thanks to The Irish Times for their continued support of this event.
MID-YEAR TENDER PRICE INDEX
We were delighted to publish the latest Tender Price Index (TPI) at the end of July. The new TPI report shows that commercial construction tender prices increased by 1.5% in the first half of 2024. The main issues that will continue to impact the market going forward are the introduction of Government levies on construction and demolition waste disposal, labour costs, and high fuel costs. The SCSI continues to emphasise the challenges these levies pose to viability as well as the need to look to opportunities in modern methods of construction (MMC) and new technologies.
Access the full report at scsi.ie.
RESIDENTIAL VIEW
In August we launched our mid-year Residential Property Market Monitor. The report shows that agent members expect national property prices to increase by an average of 4.5% over the next 12 months. This is up from the 1% increase agents forecast for 2024 back in January. The report also finds:
n three out of four agents report low stock levels – almost half say the lack of supply is the main driver of price inflation;
n over 80% of agents describe current residential property prices as expensive or very expensive;
n 77% believe prices are increasing but will level off soon;
n while agents say the number of buy-to-let properties coming to the market is continuing to increase, the rate of increase has declined significantly;
n the report includes affordability scenarios for Cork, Galway and three Leinster commuter belt counties;
n an average couple on a combined income of €107k who want to buy a new three-bed semi and have the 10% deposit will afford to buy in only one of these locations; and,
n in the two most expensive counties, Wicklow and Kildare, couples will still face shortfalls of €78,000 and €65,000, respectively.
Our thanks to the many members who completed the survey and submitted their industry perspectives. It is through your insights that our residential market monitors are possible.
NEXUS BALL 2024
The Nexus Ball is a firm favourite among our young professional members, with over 170 in attendance at last year’s sold-out event. This year’s ball is taking place on Thursday, October 17, in the Radisson Blu Golden Lane, Dublin. Join us for a great night of celebration and networking.
The Nexus Ball starts at 7.00pm with a drinks reception followed by a three-course dinner, dancing and entertainment. Book your ticket now at scsi.ie/calendar.
From left: Stephen Farrell, The Irish Times; winning team from Independent Valuations Rimi Ogato, Patrick Sheehan, Sarah Colville, and Myles Fleeton; SCSI President Kevin Hollingsworth; and runners up from Hooke & McDonald David Cantwell, Conor Steen, Avril Clare, and, Suzie Cantwell.
COGENT TAKES HOME THE TROPHY! GET INVOLVED AND GROW YOUR CAREER
The annual Nexus Rugby tournament featured strong competition from 12 teams. Our congratulations to the winning team from Cogent Associates Ireland!
Make the most of your membership and grow your career with the SCSI. Whatever your career stage, take advantage of a variety of options designed to help you launch your career, become a leader and build a legacy. MySCSI is both about growing your career and also using your experience and insights to shape your industry. By contributing your ideas, expertise and insights, you can help shape the future of the SCSI and the wider industry. Getting involved can also contribute toward your annual CPD requirement. Take a look at our new MySCSI page and online form to find the opportunity that fits your goals and priorities. Visit scsi.ie/getinvolved to get started.
The winning team from Cogent. Back row (from left): Brian McKeogh; Amalita Miranda; Audrey Murphy; Matthew Keane; Lauren Johnston; Gayle Foulds; and, Wan Qing See. Front row (from left): Natalie Foulds; Leo Wyer; Dean Johnston; James Mulhair (Captain); and, Dara Crowley.
SPREADING THE WORD OF SURVEYING
ENSURING A STEADY SUPPLY OF STUDENTS ONTO SURVEYING COURSES REQUIRES A RANGE OF APPROACHES, WORKING WITH MANY DIFFERENT PARTNERS.
As another school year is now well underway, thoughts return as always to ensuring a strong continued pipeline of talent for our industry. When considering how to attract the next generation to careers in surveying, while ensuring diversity and a good mix of skills, I often look for a ‘silver bullet’ – that one killer idea that will ensure a constant, steady flow of students into SCSI-accredited courses. The truth is that there’s no single solution. A blend of initiatives, including visits to third-level partners, development of apprenticeships, social media campaigns, interaction with career guidance teachers, and attendance at careers events nationwide are all essential parts of the SCSI’s strategy.
“ VISITING SECOND-LEVEL SCHOOLS IS CRUCIAL, AS STUDENTS WILL OFTEN MAKE CHOICES ABOUT THEIR FUTURE CAREERS DURING TRANSITION YEAR.
Visiting second-level schools is a crucial element, as students will often make choices about their future careers during Transition Year. SCSI President Kevin Hollingsworth is collaborating with the education team and our Nexus Committee to visit schools around the country and deliver a ‘day in the life’ presentation to help raise awareness of careers in surveying. This will highlight the range of opportunities available and the attractive prospects for graduates. As with our Space, Surveyors and Students schools programme (https://5sdiscover.maynoothuniversity.ie/), some emphasis is being placed on visiting both girls’ schools and DEIS schools to help raise awareness among these students about careers in surveying, and ultimately contribute to driving greater diversity in the industry into the future.
Sharing experiences
As part of the collaboration between the President, Nexus and the education team, we have redesigned the ‘day in the life’ presentation with a focus on sharing experiences. Nexus members have invested time in speaking about their experiences in the industry – how and why they chose surveying, what they do day to day, what they enjoy about it, and the type of person that may enjoy a career in surveying. This ensures that when speaking to students, there is a piece from a recent graduate from each of our major pathways to charter. This is further augmented by information from our President on his own career, talking about the trajectory of his learning
EDUCATION
James Lonergan Director of Education and CPD, SCSI
journey from Leaving Certificate, to studying in Dundalk and the journey through his career to his current position as Director of Omega Surveying Services. During visits the President and a Nexus representative are co-presenting, so that students get a perspective from both a recent graduate and one of our industry’s leaders.
In this way, we are helping students to consider careers not just in relation to subject choice at Leaving Cert, but more so in terms of what a career in surveying is really like and how their personal preferences, e.g., working in teams, working alone, working in office, working on site, and so on, might align best with a particular surveying pathway. This gives students a deeper appreciation for the range of work available to them.
So while there is certainly no silver bullet when considering how best to attract students to surveying, a sustained effort and regular interaction with school students in particular is making a difference. During recent visits to our third-level partners, I was encouraged to see strong numbers, engaged students, and a marked improvement in gender balance, particularly on QS courses.
If any member is interested in helping to inspire the next generation and taking part in school visits, please contact me at james@education.ie and I’d be delighted to support you.
BUILDING SUPPORT
AS THE PROSPECT OF A GENERAL ELECTION LOOMS, THE HOUSING SPOKESPERSONS FOR THE SIX LARGEST PARTIES IN THE DÁIL JOINED THE SCSI AT ITS PRE-ELECTION FORUM IN THE FREEMASONS HALL TO DISCUSS THEIR PARTIES’ HOUSING POLICIES.
At
No one knows for sure when the general election will be, but everyone knows housing will continue to dominate the next Government. What Irish political parties differ on are the best ways to alleviate the current crisis. This issue brought them to the SCSI’s Pre-Election Forum on Housing and Construction in the Freemasons Hall on September 25, where
FEATURE
representatives from Fine Gael, Fianna Fáil, the Green Party, Sinn Féin, Social Democrats and Labour set out what they would do about the housing crisis if they are part of the next Government.
Labour leader Ivana Bacik spoke on behalf of her party, Senator John Cummins spoke for Fine Gael, Francis Duffy TD attended for the Green Party, Senator Mary Fitzpatrick represented Fianna Fail, Eoin Ó Broin TD spoke for Sinn Féin, and Cian O’Callaghan TD gave the Social Democrats’ view.
Each party representative spoke to set out their stall before a panel discussion took place. To give an example of where the Government parties differ in view from the opposition, Fine Gael’s John Cummins
Colm Quinn Senior Journalist, Think Media Ltd
the SCSI Pre-Election Forum on Housing and Construction were (from left): Claire Brock of Virgin Media who hosted the event; SCSI CEO Shirley Coulter; SCSI President Kevin Hollingsworth; Eoin Ó Broin TD, Sinn Féin; Senator Mary Fitzpatrick, Fianna Fáil; Senator John Cummins, Fine Gael; Francis Duffy TD, Green Party; Ivana Bacik TD, Labour; and, Cian O’Callaghan TD, Social Democrats.
said that the Government’s schemes, such as the Help to Buy, are having an impact and helping people to buy homes, whereas Sinn Féin’s Eoin Ó Broin said these schemes are inflationary and that supports should be provided at the beginning of the development process rather than at the end.
Labour
Labour leader Ivana Bacik spoke about the chronic lack of housing that is affecting all generations, and said: “The Government’s Housing For All policy, launched with great fanfare three years ago, is patently not working to deliver the homes that people need”. If in power, she said Labour would convert the Land Development Agency (LDA) into a State construction company to deliver homes at the scale needed. This construction company would be able to subcontract to the private sector. She said we need to be building 50,000 homes per year for ten years.
On the rental market, Bacik said we do not treat rental properties as homes but that we need to. If in power, Labour would give greater security to renters, implement a rent freeze, and provide quality of life measures such as the right to rent an unfurnished apartment. Finally she said Labour would tackle what she called the “scourge of vacancy and dereliction” by introducing a greatly increased fund for those who wish to retrofit and refurbish.
Fine Gael
Senator John Cummins said that when Fine Gael first took power in 2011, the building sector had collapsed and fewer than 7,000 units per year were being built. He contrasted this to last year, where 32,000 units were completed.
Cummins said some people have an ideological position that State delivery of homes is good and private delivery is bad: “My party believes that all housing units, delivered by whatever mechanism, have a positive impact”.
It would be a mistake in Fine Gael’s view to remove the Help to Buy and First Home schemes, as Cummins stated they have helped to bridge the gap to home ownership for many.
Many of the other speakers attacked the Government’s housing targets as too low, and Cummins said the Government would continue to review these: “But targets alone will not deliver supply. It’s about giving you and the sector certainty in relation to the schemes that have been introduced over the last six years so that you can plan in a stable environment in order to increase supply, which we all acknowledge is key”.
Green Party
Green Party representative Francis Duffy said that we should be using more timber in our construction in Ireland, and lamented that we are
SCSI President Kevin Hollingsworth welcomed a packed room to the event.
behind Europe when it comes to embodied carbon targets. In terms of achievements of the Green Party while in Government, he said: “In negotiations, I would have fought for 100% public housing on public land. We legislated for that in Cork and Dublin. We tried to get Galway and Limerick, but that’s what we got. The LDA originally were looking to build 60% private housing on public land. We’ve changed that. So they’re now building 100% public housing on public land across the country, and they’ve come out and said they’re building 75% of that as cost rental”.
Duffy said the current Government has built more houses than the previous two. He said retrofitting numbers are up at around 50,000 units per year. He also noted that the Greens fought for the abolition of coliving. In the context of the Multi-Unit Development Act, Francis said the Green Party is advocating for reform of that.
Fianna Fáil
Mary Fitzpatrick said that tackling the housing crisis is a huge challenge but that Fianna Fáil is a party of action on housing. With its Government partners, it introduced Housing for All to increase the supply and affordability of housing: “We’ve done that by supporting the delivery of private homes, social homes delivered by local authorities, approved housing bodies, and affordable homes”. Politicians don’t build houses, Fitzpatrick said. They need to support the sector that does. She also mentioned the Help to Buy scheme, which she said is helping people to buy homes: “Have we done enough? Of course we haven’t. Do we need to do more? Yes, we do. And so what
we need to do next is stop talking down the sector, stop talking down the incredible achievement that is being made, the fact that Ireland has twice the construction pace of any other European country, the fact that more people are buying their home in Ireland than in any other country in Europe. And we need to scale up, we need to build on what we’ve already achieved”.
Sinn Féin
Eoin Ó Broin said that Sinn Féin’s fully costed A Home of Your Own plan lays out what the party would do once in power. The plan is underpinned by three recommendations from the Report of the Housing Commission, he said. Firstly, that we need to build 300,000 homes over the next five years. Secondly, that 20% of the housing stock should be in State ownership. To do that, we need to double the amount of social/affordable homes that are built. Thirdly, there should be a reset of housing policy.
There should be at least a doubling of investment by the State in the delivery of social and affordable homes according to Sinn Féin. Ó Broin said that on the private side the viability gap keeps getting wider: “We have to stop intervening as a State at the end of the development process cycle and instead intervene at the start, do far more to assist to activate private residential development, particularly higher density development”.
On the private rental sector, Ó Broin said people are spending too long in it and that it needs to be smaller as a percentage of total housing stock, and much more stable.
The panel discussion in full swing. From left: Eoin Ó Broin TD, Sinn Féin; Senator John Cummins, Fine Gael; Francis Duffy TD, Green Party; Senator Mary Fitzpatrick, Fianna Fáil; Ivana Bacik TD, Labour; and, Cian O’Callaghan TD, Social Democrats.
Social Democrats
Finally, Cian O’Callaghan of the Social Democrats spoke on the despair he sees among people in their 20s/30s about never being able to move out of their parents’ houses. Renters are also petrified of receiving a life-upending eviction notice, he said.
The Social Democrats have a fully costed affordable housing plan coming out soon, and O’Callaghan thanked the SCSI for the data it provides, which was helpful in costing this plan: “That plan will show how we could build thousands of affordable purchase and affordable rental homes each year to significantly increase supply”.
One idea O’Callaghan was keen to promote was affordable housing zoning, which is used elsewhere in Europe. He said there have been instances in the past where affordable housing was promised if land was rezoned for development but then it was not delivered: “An affordable housing zoning would be an effective measure to make sure that in certain instances when land gets rezoned, rather than someone getting a speculative uplift from that rezoning, that the price is kept more affordable”.
Q&A
In the Q&A, the parties discussed and debated housing further, and the challenges to increasing supply and ensuring affordability. Ó Broin said that at the moment the market is unable to provide new homes at an affordable rate: “That's not the criticism, that's just the reality of the numbers as they stack up. And that's why we set out in the housing plan a very ambitious public affordable housing programme, including
affordable purchase, that essentially separates land costs and land values from construction costs, and sells the house at the price of construction”. Cummins said that Fine Gael differs from Sinn Féin and other opposition parties in how you achieve affordability: “We believe that supporting people to purchase their own home, homes that they can own outright, not at the leasehold option as proposed by Sinn Fein, is the better proposition”.
Bacik said Labour agrees with many of the Government schemes but wants to see them scaled up. She also said the Government needs to increase its housing targets above the figure they are at now (33,000 units per year): “We know that's far too low. The Housing Commission's report has said it's too low. Every other stakeholder and expert group has said it's too low. And indeed, just last week the Central Bank expressed doubt that the Government would even meet those targets”.
Fitzpatrick praised the success of Housing for All since it was launched in 2021: “115,000 new homes have been built. And for every three homes that have been built, one home has been a social or affordable home. So that's a demonstration that we as a country, we as a State, can actually deliver”.
Duffy said the Green Party had helped to change Part V so that more social and affordable homes could be built: “Now 20% of all housing units developed in the private sector have to be social and affordable”.
O’Callaghan spoke of expanding the not-for-profit sector, which would be crucial in hitting any increased housing targets: “If we're going to reach the 60,000 homes that we need a year, a good bit of heavy lifting is going to have to be done by an expanded not-for-profit sector”.
From left: Claire Brock, Virgin Media; SCSI CEO Shirley Coulter; and, SCSI President Kevin Hollingsworth.
BUILDING A BETTER FUTURE
NEW TECHNOLOGY MEANS LANDLORDS AND OFFICE OCCUPIERS CAN MAKE MORE INFORMED DECISIONS AND MEASURE PROGRESS TOWARDS MORE ENERGY- AND CARBONEFFICIENT BUILDINGS.
Trends within the office market are continually evolving to keep pace with changes in occupier needs. For example, the recent shift towards hybrid working has led to increased demand for smaller, flexible spaces, with larger areas for collaboration and shorter lease lengths. Although some occupiers may take less overall square footage than was previously the case, the quality and functionality of that space has become more critical than ever. To encourage employees back into the office and to attract new staff, employers are enhancing their workplaces to make them more attractive and welcoming. They are also seeking to improve their sustainability credentials amid an increased desire among employees to work for companies that prioritise their environmental, social and governance (ESG) responsibilities.
Many large organisations now have a ‘Green Team’ or ‘Sustainability Lead’ managing their ESG policies and delivering sustainable changes. These can be required to lead on initiatives such as eliminating single-use plastics, improving recycling practices, and promoting biodiversity within the office, but may also be tasked with sustainability reporting responsibilities, and setting and meeting key targets or goals (which for many corporates is now a mandatory requirement, e.g., new EU legislation around ESG reporting for businesses), and for demonstrating their sustainability credentials to ESG-conscious clients and customers. Given the extent of what is involved and the fact that these employees are likely to have other day-to-day responsibilities, a significant level of support or input may be necessary, and this is where an active landlord can assist.
Measuring consumption
The rollout of new ESG reporting obligations has led to a greater demand for workplace operational data from office occupiers. In the past,
John Cairns Senior Asset Manager, Hibernia Real Estate Group FEATURE
landlords typically collected such information on a whole building basis, but now occupiers are seeking it for the specific space they occupy.
At Hibernia, we have been measuring energy consumption in the common areas of the buildings we own for some time as part of a policy that has helped to control usage and reduce operational costs. When occupiers realised this was possible and could deliver benefits, they asked if similar technology could be applied to their individual spaces. In 2022, we introduced CoolPlanet’s operating system into our commercial building portfolio. The product, developed by the Wicklowbased company, is a management platform that can monitor energy, waste, and water usage in both landlord-controlled and occupiercontrolled spaces. Bringing this data together facilitates the tracking of Scope 1, 2 and 3 carbon emissions as well as helping to identify any excessive usage. We have worked closely with CoolPlanet to develop online dashboards to ensure that the system is relevant and easy to operate (Figure 1), giving occupiers direct access to the data that applies to the spaces they occupy and allowing them to understand how they are using their offices.
The platform also tracks carbon emissions reduction initiatives against Hibernia’s net zero carbon trajectories for each asset and can identify reduction opportunities. This is useful for demonstrating the decarbonisation journeys of assets to potential lenders and buyers who now seek this as part of their due diligence processes. Additionally, the data produced makes ESG reporting more accurate and transparent for both us and our occupiers.
A collaborative approach
Collaborating on ESG initiatives with occupiers involves more than just energy management. On a quarterly basis, Hibernia meets occupiers to discuss ongoing sustainability measures within
our buildings. These meetings are used to provide operational updates, as well as allowing occupiers an opportunity to share their own stories and initiatives, which in turn provide valuable insights for other occupiers to learn from and improve their own practices.
A quarterly sustainability newsletter is also issued to occupiers to provide updates in a format that can be sent out to their colleagues in the wider company. Each edition features the highlights from the previous three months and focuses on a specific UN Sustainable Development Goal (SDG). The summer 2024 newsletter, for example, focused on SDG 12, Responsible Consumption and Production, and
specifically addressed how occupiers can improve their recycling rates. A campaign was developed around this with communications and an animated video circulated to occupiers.
The sustainability badge on a building shows the standards to which it was constructed and demonstrates whether best practices were implemented at the time of construction. This badge, however, does not
Figure 1: Example of CoolPlanet dashboard.
show how a building is operating post construction. In-use certification such as Leadership in Energy and Environmental Design for Operations and Maintenance (LEED O&M) assesses how a building operates day to day and considers energy consumption for the whole building, water usage, waste generation, air quality, cleaning services, procurement of goods, and the commuting patterns of building users. Aided by occupier co-operation and the information provided by the CoolPlanet OS, Hibernia has begun to introduce this certification into our existing stock with two assets certified and three more in the process of being certified.
Supplier engagement
Engagement with suppliers is an essential part of an organisation’s sustainability strategy and ESG reporting obligations. Understanding the impact of suppliers on an organisation’s overall emissions can be a challenging and complex task. At Hibernia, we have started to engage with a large cohort of key suppliers involved in the operations of buildings such as cleaning contractors, front-of-house staff, security personnel and others through a bespoke training programme on key aspects of sustainability. The programme provides suppliers with an overall understanding of sustainability and climate change, as well as information on how to measure their carbon footprint and develop oversight of their social impact and responsibilities.
Energy reduction measures
While the majority of occupiers are enthusiastic about reducing energy usage and associated carbon emissions, they may only agree to invest in new systems and technology if the financial benefit is likely to be realised within the lifespan of their lease. With average lease lengths shortening across the market, there is a smaller window of opportunity to put such investments through a service charge. This raises the problem of split incentives, whereby the occupiers who are paying the energy bills are not making the capital investment decisions. So how has Hibernia overcome this challenge?
1. Power purchase agreements (PPAs)
There are several parties that will commit to providing the capital investment to install a renewable energy source, such as solar PV panels, and charge the user for the energy produced. This can provide an asset
with energy at a fixed rate for 10 to 15 years that is below the current market rate. It’s an effective and appealing option, but the payback period can be reached significantly quicker if the renewable energy source installation can be fully financed upfront.
2. High-yielding interventions in heating, ventilation and air conditioning (HVAC) systems
Since 2022, Hibernia has been working closely with Symphony Energy, an Irish company that has implemented digital engineering technology in several or our buildings. Symphony’s technology uses both sensors and optimisation software to enhance the existing HVAC systems. Additional hardware such as sensors and motorised dampers are deployed alongside Symphony’s patented algorithms to enhance cooling and heating loads based on real-time demand. This produces considerable energy, carbon and cost savings for both occupiers and landlord, with a payback period of four to five years. Our collaborative approach to energy management and oversight has allowed us to put such interventions through the service charge for the building.
3. Capital expenditure
There is a very real risk that without significant investment, a larger portion of office buildings will become ‘stranded assets’ and left in a position where they are unable to produce an income. To avoid this, building owners may look to invest in various upgrade works that would fall outside of the typical building service charge or sinking fund. This could include works such as the renewal of the CAT A equipment or structural upgrades. We have many examples where we have invested in upgrades that have led to significant energy efficiency improvements and associated BER uplifts and new green building certifications, thus minimising the risk of our assets stranding.
Benefits and savings
The various initiatives introduced within the Hibernia portfolio have resulted in a 62% reduction in Scope 1 and 2 emissions against the 2019 baseline. Furthermore, there has been a 47% reduction in whole building energy use intensity across managed assets since our 2019 baseline. In total, 28 CoolPlanet OS energy and waste occupier dashboards have been rolled out in 2024 to date, allowing this number of portfolio occupiers to view their consumption and emissions.
Each of these initiatives has provided value to the occupiers in a monetary sense by reducing service charge costs, as well as providing enhanced data sources, which makes their job easier, and reporting internally and externally more efficient and impactful.
In a recent survey commissioned by Hibernia and carried out by IPSOS B&A, one occupier highlighted the positive impact of being able to see the progression the sustainability team was achieving: “I don’t think it’s something that every landlord would offer,” they said. “And if we were to leave this building to go elsewhere, we might not get the same.”
1 Cumberland Place, Dublin.
LOST OPPORTUNITY?
THE OPPORTUNITY COST OF RENT CONTROL IS SOMETHING THAT NEEDS TO BE CONSIDERED BY GOVERNMENT.
In the years 2018 to 2022, a total of €9.5 billion was invested into the residential sector in Ireland by institutional investors. The majority of this investment was made by investors based outside of Ireland, and indeed, many of the domestic institutional investors active during this period used internationally sourced finance. Of this €9.5 billion, more than €5 billon was deployed by investors acquiring assets in ‘forward structured’ transactions. The bulk of these acquisitions were for private rental sector apartments in Dublin and the Greater Dublin Area. With an average of just over €1 billion of capital deployment per annum, and assuming an average unit cost of €500,000, these transactions were accounting for the supply of 2,000 new apartment units per year and 10,000 units over the course of five years. The majority of this investment was made through ‘forward commitments’, a transaction structure in which an investor agrees to purchase a development, typically at the early or mid-construction stage, with the transaction then concluding at the end of construction. Separately, a handful of large-scale transactions were structured as ‘forward funds’, whereby institutional investors funded the construction of apartment developments,
Colin Richardson Director Head of Research & Consultancy, CBRE
taking ownership of the subject site in the first instance and then, after phased payments, taking full ownership of the development on completion of construction (Figure 1). The primary example of this was German investor Union Investment forward funding 435 rental units with developer Ballymore at 8th Lock in Rathbourne, west Dublin, in 2021.
Fall-off in transactions
The extent of the investor interest in these types of transactions during this period meant that domestic developers were able to move forward with planning and commencing the construction of large-scale, modern, sustainable, and amenity-supported apartment developments throughout this period. The higher probability of a bulk exit sale reduced development risk significantly, while the bulk sale mechanism also allowed developers to complete the disposal efficiently and to move on to their next development project much more quickly. This resulted in a significant increase in the construction of private rental apartments that are still carrying through to completion today. However, since the start of 2023, just one forward structured residential investment transaction has been originated in the Irish market, and that transaction was largely a carryover from the previous year. Essentially, no new transactions of this type have been originated in the Irish market since 2022.
There are a number of reasons for this, including the sharp increase in the cost of capital and construction costs that occurred from 2022 onwards. However, the key underlying reason that has discouraged investment is centred around Irish rent control policy, which was adjusted again
Figure 1: Irish residential investment volumes – forward vs stabilised.
Budget 2020 –increase in Commercial Stamp Duty to 7.5%
2016 2019
Introduction of the first ‘Rent Pressure Zones’ (RPZ) at 4%
in December 2021, limiting annual rent increases to the lower of 2% per annum or the rate of Harmonised Indices of Consumer Prices (HICP) (Figure 2). Equally as punitive and discouraging to investment is the fact that this rent control applies to the next letting of a property even at the end of the previous tenancy (unless the property is left vacant for 24 months). With these measures in place, and considering the higher cost of capital, underwriting these investments to meet standard return requirements becomes unviable.
Action needed on rent control
We have now seen two cuts to base interest rates by the European Central Bank (ECB) in the last four months, and clearly the market is firmly on a path to a materially lower cost of capital over the next 18 months. It is at this point that we need to assess Irish rent control policy. Allowing some flexibility, particularly to rent caps on newly constructed apartment developments, could help to unlock a portion of supply that is currently locked out of the market. Through our work at CBRE, we regularly speak with the largest institutional investors in Europe and North America on their investments in Ireland. Over the last two years, our periodic discussions with decision-makers
RPZ amended to rate of HICP (July ‘21)
RPZs were initially due to remain in place until December 2024, but in May ‘24 the Government extended until December ‘25
2021 2024
Increase of Stamp Duty on bulk purchase of houses to 10%
controlling potentially billions worth of investment into the Irish residential market have centred on rent control, and its impact on the viability of investing into Irish apartment development. Our conversations with these investors follow a similar theme and trajectory. Ireland’s economic, employment, and demographic growth make it an incredibly attractive place to invest. The fundamentals are positive, but unfortunately, investment into the residential sector is largely unviable with the rent control policy that is currently in place.
Of course, tenant protections in some form can be required in a market that faces the challenges that Dublin and much of Ireland face. But fundamentally locking out up to €1 billion of capital per annum that could support the development of thousands of apartments in a market that is so fundamentally undersupplied is not something we can afford to do.
Irish institutional property research has consistently highlighted the gap that exists in funding residential development in Ireland. To reach the initial National Planning Framework objective of 50,000 new dwelling
RPZ amended to the lower of 2% or the rate of HICP (December ‘21)
completions per annum, approximately €15.1bn of funding is required (Figure 3).
The State allocated €4bn per year under Housing for All through several different initiatives on both the supply and demand sides. Of course, the level of Government capital has been scaled up somewhat since then, but regardless, if we are to reach 50,000 to 60,000 new dwelling completions per annum, then clearly a significant funding gap exists. To have any hope of reaching these
Figure 2: Irish rent control policy timeline.
targets, then a holistic approach to housing development, with both public and private capital playing a role, is required.
Scottish rent control
Scotland is a recent example of a country implementing rent control measures. The Cost of Living (Tenant Protection) (Scotland) Bill, which included a rent freeze and moratorium on evictions, was put in place from September 2022. From April 2023, the
rent freeze was lifted, and a 3% annual rent increase was allowable, but with an exemption put in place for private landlords, who could raise rents by up to 6% in order to cover certain costs. In September 2023, the Scottish Government confirmed that this rent cap and eviction moratorium would come to an end in March 2024.
Research from Propertymark (a Scottish estate agent membership body) stated that “landlords in Scotland were increasing rents between tenancies to cover their costs and anticipated costs due to a fear of ongoing rent control legislation”. They also highlighted that in the long term, these rent control measures would lead to billions of pounds worth of investment being lost.
The Scottish parliament is currently reviewing a national Housing Bill that was published in March of this year. Reports suggest that the rent control policy within the Bill is being reviewed to ensure that it is less restrictive than initially outlined.
Dutch exemption for newly constructed developments
Another jurisdiction where rent control policy is worth analysing is the
Netherlands. New rent controls introduced under the Affordable Rent Act in July of this year increased the number of rent-controlled properties to 96% of the country’s entire rental market, the highest proportion of rentcontrolled homes in Europe per the OECD. The Act introduced a law that saw properties graded to determine the maximum rent a landlord can charge. The grading is based on the official value, number and size of rooms, design, energy efficiency and outdoor space. This year, rent for social housing can increase by a maximum of 5.8%, while housing graded at over ‘143 points’ can experience annual rent increases of at most 5.5%.
Notably, however, there are some exemptions to this regulation for developers who begin construction of new rental properties before 2028. In these cases, landlords will be allowed to charge a surcharge on the maximum rent cap for a period of 20 years. This is something worth noting in an Irish context. If the goal is to maintain a fair market for renters but also to continue to promote supply from all private sources, then perhaps a similar methodology is worth exploring in our market, giving an exemption to newly constructed development in order to reignite private rental apartment supply.
Figure 3: Residential development finance requirements.
CHARTERED VALUE
BECOMING A CHARTERED SURVEYOR HAS REAL BENEFITS, INCLUDING IF YOU ARE PLANNING
TO WORK ABROAD.
With many property professionals having migrated and finding themselves working beyond the borders of their home countries in overseas real estate markets, becoming a chartered member of the SCSI and RICS is more than just a formality – it is a strategic asset. This article delves into why SCSI chartered membership is crucial for real estate professionals operating overseas, focusing on aspects such as global recognition, access to industry resources, networking opportunities, support and advocacy, commitment to continuing professional development (CPD), upholding ethical standards, and gaining local insights.
Global recognition and credibility
After months of travel across Southeast Asia, I arrived in Sydney to be greeted with beautiful sunshine and beaches, while also facing the daunting task of seeking job opportunities within the Sydney real estate market. Having become a chartered member of the SCSI after successful completion of the APC assessment, I was confident that the credibility of this qualification would provide a significant advantage when exploring new opportunities Down Under.
It became clear that the Australian real estate market is characterised by its own set of regulations and licensing requirements. Although I had yet to complete my real estate certifications locally, being a chartered member of the SCSI enhanced my credibility and signified adherence to the rigorous standards of the SCSI, which has a global reputation for maintaining high standards of professionalism.
Through discussions with many local real estate professionals, and through meeting Chartered Surveyors based locally in Sydney, it was apparent that chartership highlighted my experience and commitment to the high-quality standards set out by the Society. This helped to expand my network quickly within the market and was particularly important in building trust with clients and employers.
FEATURE
The Australian real estate market is distinct, characterised by its own set of market trends and economic conditions. However, the value of accessing industry resources is universal. SCSI membership provides access to a broad range of resources, including industry reports, best practice guidelines, and research materials. I was able to access comprehensive reports on global real estate trends, which can provide context for understanding the Australian market and helped me when having discussions with potential employers at the beginning of my journey.
Sean Miland Savills Australia & New Zealand
A network of professionals
Before arriving in Sydney, I was aware that networking would be a crucial aspect for my professional success overseas, particularly in the real estate sector, where relationships can lead to new opportunities and collaborations. SCSI membership opened doors to a vast network of industry professionals, both within Ireland and internationally. This network allowed me to gain local knowledge from
those experienced professionals based in Australia. For those currently abroad or for those thinking of joining the large community in Australia, this networking can lead to valuable connections and insights into different market approaches.
Continuing to learn
While continuing to learn the local markets in Sydney, the SCSI’s robust CPD programme has also ensured that I am continuing my professional growth. Even while working in
“
FOR OTHER PROPERTY PROFESSIONALS
TRANSITIONING FROM IRELAND TO AUSTRALIA, SCSI CHARTERED MEMBERSHIP CAN ALSO HELP TO LEVERAGE YOUR KNOWLEDGE AND IS EVIDENCE OF YOUR INTERNATIONAL EXPERIENCE.
Australia, participating in ongoing CPD with the SCSI has allowed me to stay updated on global and local industry trends while also enjoying all the new experiences along the way. This commitment to ongoing learning helps professionals like myself adapt to new challenges and refine their skills when entering a new globalised market with everchanging economic conditions. Staying at the forefront of industry developments has allowed me to deliver high-quality services and maintain my competitive edge in the Australian market.
As I have previously mentioned, understanding the local market context is critical for success in a new country. For all professionals working in Australia, gaining insights into local industry practices, regulatory environments, and market conditions can provide a significant advantage. SCSI membership can offer guidance and support on these local aspects, helping professionals to navigate all the complexities of the Australian market.
The network of SCSI and RICS members in Sydney includes connections with local industry experts and organisations that provide you with valuable insights into the Australian real estate sector. This support can help professionals tailor their strategies to meet local needs, comply with regulatory requirements, and effectively manage projects for clients. Leveraging these local insights has allowed me to enhance my understanding of the market and improve my ability to deliver successful outcomes through my work in Sydney.
Get chartered
For other property professionals transitioning from Ireland to Australia, SCSI chartered membership can also help to leverage your knowledge and is evidence of your international experience. The ability to demonstrate chartership with a reputable organisation such as the SCSI provides evidence of your commitment to global standards and practices. This can be particularly useful when seeking to position yourself as a knowledgeable and experienced professional in a new market. By highlighting your SCSI affiliation, this differentiates you from others in the Australian market and is a huge bonus when seeking opportunities overseas and building your relationships with clients.
In conclusion, for real estate professionals working in Australia, chartered membership with the SCSI offers a range of significant advantages. From enhancing global recognition and professional credibility, to providing access to valuable resources, networking opportunities, and support, SCSI chartered membership plays a crucial role in navigating the complexities of working abroad. The commitment to CPD and gaining local insights further underscores the importance of SCSI membership. As the real estate industry continues to evolve on a global scale, the support provided by professional organisations like the SCSI remains essential for achieving success and maintaining high standards of expertise and professionalism in international markets.
TAXES AND TOWNLANDS
THE FORMATION OF THE ORDNANCE SURVEY OF IRELAND IN 1824 WAS THE RESULT OF A DESIRE FOR TAX REFORM.
Over the past two centuries, the term ‘ordnance survey’ has become a byword for cartography in Ireland. However, from its foundation in 1824 onward, the Survey (now Tailte Éireann and OSNI, respectively) has had a significant social and cultural impact well outside its cartographic origins, being a constant presence during this island’s recent and often tumultuous history. Given all it has achieved during this period, it is easy to overlook the events that led to its formation and to grasp the motivations of those who guided this process. Accordingly, by understanding the Survey’s foundation in Ireland, we can view its better-remembered milestones in a new light.
The county cess
Though now firmly associated with general map production, the Ordnance Survey’s initial objective in Ireland aligned more with finances than cartography. Early 19th century Ireland’s economy was dominated by agriculture. Most of its rapidly growing population lived on and worked the land, and were subject to several taxes based on their holdings. One of the most prominent was a ‘county cess’, paid on a townland basis to support local infrastructure and administration. In theory, this charge was proportional to the size and output of land held by each taxpayer. Unfortunately, by the 1820s, cess estimates had become grossly outdated. Many had been initially set in the 17th and 18th centuries, and no longer reflected the actual value of the land. Therefore, one townland might pay little or no cess, whereas their immediate neighbour would be excessively charged. In the words of one period commentator, the result was a “mass of clumsy partiality”.
This widespread inequality was not just a matter of concern but a pressing issue that needed immediate attention. Authorities recognised the cess problem as the source of significant public discontent and that it was fuelling broader support for the more topical Catholic Emancipation movement. As a result, many in Westminster feared that Ireland would soon be in open revolt and that the violence of the 1798 Rebellion would be repeated. Reform of cess was one way in which this scenario could be avoided.
The need for a survey
Irish Westminster MPs repeatedly investigated the cess system during the 1810s. Their results showed that the existing approach was unreasonable, based on archaic methods, and needed total revision. They concluded that any modifications would require support from an accurate, island-wide mapping source on
which to base new valuations. Therefore, this new survey was not simply to be an aid, but a pressing and crucial element in the restructuring process.
It was true that Ireland had repeatedly been subject to large mapping projects over the preceding centuries. Outside the private sector, older surveys had usually supported the seizure of Gaelic and Catholic lands for new waves of Protestant British settlers. Such efforts had been conducted piecemeal over a century and a half (stopping in 1703), with no official homogenous cartographic resource covering the island. None had recorded the labyrinth-like boundaries of Ireland’s 60,000 townlands, which would be the basis of any changes to cess.
Finnian O’Cionnaith Historian and author FEATURE
The MPs concluded that any cess reform would thus have to be preceded with a survey suitable for the task. However, who would be responsible for managing such a project remained unclear. The MPs had no direct solution. Period Ireland had a well-established surveying profession primarily tailored to the property industry. It also had a small group of experienced engineering surveyors, many of whom had been extensively involved with more limited government surveys. If a champion of the Irish survey could be found, it would likely be among these groups.
Division
Others with a stake in reform had different ideas. One was Richard Wellesley, Lord Lieutenant of Ireland. In early 1824, he wrote a letter to his brother Arthur, the Duke of Wellington, who at the time was Master of Ordnance to the British Army. Richard brought Wellington up to date with Ireland’s tax issues and assured him they could be resolved if suitable mapping was available. However, he had little faith in Ireland’s current surveyors and requested that Wellington deploy his small but experienced team of ordnance surveyors. Wellington moved quickly, and soon plans were underway to send his men, under Major Thomas Colby, across the Irish Sea.
The MPs involved with reform efforts were aghast at this
development. They firmly believed that while Colby was highly competent, a military-style survey of Ireland would be unsuitable to the cess question. The ordnance team had no experience recording minor civil divisions that were required for change, such as townlands, and had limited their work in Britain (begun in the 1790s) primarily to county boundaries. By contrast, Ireland’s private surveyors frequently recorded townland bounds but were effectively blocked from the project. A parliamentary committee was soon formed to decide how best to approach the Irish survey and what the ordnance’s role would be.
Under the chairmanship of Thomas Spring Rice, MP for Limerick, the committee delved deep into Irish surveying, taxation and land use. Throughout, they sought to see what elements of the survey Colby and his men would suit best and if local Irish expertise could assist. Despite some backlash from Wellington, they, with Colby’s support, agreed that the Ordnance Survey would map Ireland to the organisation’s usual standards but would now include townland bounds once identified by local surveyors.
A new chapter
This new, combined project plan to create a six-inch-to-a-mile national series was the result of their collaborative efforts and compromises. Colby’s presence would give the survey the reassuring military element wanted by Wellington and Wellesley, while advice on townlands from local experts would ensure that the regional concerns of the MPs were addressed. In this manner the new survey, commissioned in June 1824, would start a new cartographic chapter for Ireland. This new age would see the immense weight of Enlightenment scientific development deployed to the Irish countryside, charting its physical and human landscape in a way never seen before. It is a legacy that we still live with to this day.
Co. Donegal: specimen with hills engraved, Ordnance Survey of Ireland (c. 1857) (David Rumsey Map Collection, David Rumsey Map Centre, Stanford Libraries).
The Origin of Ireland’s Ordnance Survey, by Finnian O’Cionnaith, was published in May 2024 by Four Courts Press.
THE GREAT LEAP FORWARD
ENERGIESPRONG IS A REVOLUTIONARY APPR OACH TO WHOLE-HOUSE RETROFIT.
Energiesprong, which translates as ‘energy leap’, is an innovative approach to whole-house retrofit, first piloted in the Netherlands. It is a set of standards that add up to a net zero energy home, with performance guaranteed for 30 years. This is typically achieved by:
n a new thermally efficient façade, which creates an airtight and insulated shell around an existing property;
n rooftop solar PV, sized to generate as much energy as the property consumes; and,
n an energy hub, with air or ground source heating and optional batteries, which enable the home to provide energy services to the grid.
Energiesprong retrofits are funded with a whole-life financing model, where the cost is covered by energy savings and reduced home maintenance costs.
To date, Energiesprong projects have been completed in the Netherlands, UK, Germany, Italy and France. The Energiesprong approach has also been used for retrofit in New York State (RetrofitNY) and California (Realize).
FEATURE
Krystyna Rawicz Managing Director, KRA Visionary Project Partners
How is Energiesprong different from standard retrofit?
Homes are fully insulated using off-site manufactured wall and roof panels in conjunction with pre-assembled ‘energy pods’ – creating warmer, more desirable places to live that are financed by energy and maintenance savings.
The Energiesprong standard focuses on creating desirable homes that people love to live in. Because an Energiesprong retrofit (or new build) has the very best energy standard available, it uses the money that would normally be paid on energy bills and maintenance to pay for the works.
The Energiesprong approach can do this while assuring that the cost of living does not go up, because the standard guarantees real-life performance for both indoor comfort and energy use for up to 40 years.
What homes does it work on?
The Energiesprong approach can be used on a range of housing archetypes. Currently, Energiesprong works primarily with the social housing sector to create initial volume. A housing entity finances an Energiesprong retrofit (or new build) by combining savings on energy cost from tenants, and on repairs and maintenance.
The Energiesprong approach to retrofitting and finance makes it more readily suitable to
scaling up in the social housing sector, because landlords can accrue energy and maintenance savings over 30 years.
Technology innovations
The Energiesprong approach combines three technology innovations:
n off-site construction: creating prefabricated façades and roofs off site at a factory enables simple on-site work;
n mass customisation: using laser measurement and drones to survey homes allows developers to take detailed measurements, increasing the accuracy and production speed of off-site manufacturing; and, n integrated components: consolidating solar electronics, a heat pump, battery storage and heat recovery ventilation into a single unit enables the home to provide grid services as well, such as demand modulation.
“ ENERGIESPRONG IS A SET OF STANDARDS THAT ADD UP TO A NET ZERO ENERGY HOME, WITH PERFORMANCE GUARANTEED FOR 30 YEARS.
Netherlands-based factories building parts for Energiesprong retrofits have improved the labour productivity of construction by 75% and reduced waste by 90%. The approach enhances sustainable construction!
How much does it cost?
The objective is that tenants’ monthly outgoings remain the same. The housing entity benefits from the new income stream arising from energy savings to pay for the retrofit over a number of decades. Tenants pay the housing association an energy
service plan (similar to a phone bundle) with an allowance for a guaranteed indoor temperature, plus an allowance for hot water per day and a power bundle for light and appliances.
Because the Energiesprong standard guarantees the energy performance of the house and is a real-life performance instead of a theoretical measure, the housing entity can calculate how much the alternative would cost if the tenant had to purchase this comfort level through the energy supplier. The housing entity then sets the energy plan according to that rate (or under it if it chooses to).
Energiesprong UK – completed project of 10 houses in Nottingham.
Because the housing entity’s new combined budget needs to cover the total cost of ownership over 30 or 40 years, it drives solution providers not only to lower costs upfront and improve quality, but also to focus on lifetime costs.
However, cost is not the sole, or even most important factor for people. Hassle and aesthetics are at least as important. The current policy approach does not take this into account. For large-scale retrofits to be a desirable choice, they have to be seen as simple to do and enhance a home’s appearance, as well as being affordable. An average Energiesprong retrofit reduces a home’s total energy demand by 80%. Solar panels on the roof generate as much energy as the home consumes over a year. During the summer, the building exports electricity,
“ HOMES ARE FULLY INSULATED USING OFF-SITE MANUFACTURED WALL AND ROOF PANELS IN CONJUNCTION WITH PRE-A SSEMBLED ‘ENERGY PODS’
– CREATING WARMER, MORE DESIRABLE PLACES TO LIVE THAT ARE FINANCED BY ENERGY AND MAINTENANCE SAVINGS.
and in winter it draws energy from the grid. Including batteries allows it to operate flexibly and disconnect from the grid between 4.00pm and 7.00pm to avoid daily peak demand.
Can Energiesprong work in Ireland?
The Energiesprong approach could contribute to solving one of Ireland’s major energy challenges by:
n using new technology to permanently lower the cost of retrofits, removing the need for subsidies;
n providing a low-hassle option for householders – retrofits by this method can be installed in as little as a day, more commonly over a week;
n offering a large-scale heat solution for Ireland; and,
n stimulating innovation in the construction sector to raise productivity.
As Energiesprong is a novel approach to ‘whole house’ retrofit, its cost is currently higher than the more usual incremental insulation upgrades. H owever, it creates a net zero energy home in one step, which avoids later spending on a decarbonised heat system and also avoids potential spending on further efficiency measures in the future.
Because the Energiesprong approach harnesses technology and construction innovation, its upfront cost is more likely to fall rapidly through mass deployment and economies of scale, in which case it will become the cheapest deep-house retrofit option available.
Prefabricated roofing with integrated rooflights being craned into position.
Energy pod used at the Nottingham project.
SURVEYING SOLO
FOLLOWING MANY YEARS AS AN EMPLOYEE , SABRINA MACKIN STRUCK OUT THIS YEAR AS A SELF-EMPLOYED CONSULTANT, A DECISION SHE IS DELIGHTED SHE MADE.
After several years in corporate life, Chartered Building Sur veyor Sabrina Mackin decided to take some time out. While doing this, the idea of starting her own business became more and more appealing. She comes from a family of entrepreneurs, with both her father and brother having successful businesses, and says: “I was thinking: if they can do it, I can do it”.
Eight months ago, she set up as Clearpoint Consulting and is finding it a great fit for her: “I don’t have to fill out a timesheet. I don’t have to deal with HR. I can choose who I work with”.
Work has been steadily coming in also: “For the past six months I have been lucky enough to have had a contract to provide development management services to a large investor. I have been engaged in four main projects: two in Dublin, one in Cork and one in Glasgow. My working day typically includes reading technical information, attending calls with the project teams and client, and attending site meetings”.
Another thing Sabrina loves about selfemployment is the flexibility: “Maybe I will go back into employment in a couple of years,
SURVEYOR
PROFILE
Colm Quinn Senior Journalist, Think Media Ltd
but right now, this is a good fit for me. That’s what I really like about it. You can ramp down your days if you want. I started off working ten days a month, and then I was needed for more. That’s the good thing about it. You can be flexible”.
One downside is that you have to set up everything for yourself, such as your own pension, and work with an accountant to do your own payroll. However, Sabrina says this wouldn’t put her of: “All of that is certainly complicated but the payoff is worth it”.
Getting going
When Sabrina started the business, fellow surveyors who she’d worked with over the years started giving her work: “Which I’m so thankful for. That gave me confidence that I wasn’t making a mistake. And then once I put it on LinkedIn that I had set up this business, a previous client contacted me saying they needed support, and I agreed to a sixmonth contract”.
Sabrina’s advice for anyone thinking of starting out on their own is to speak to friends and peers who’ve done it: “I spoke to a friend of mine who is a partner in a valuations practice and she was amazing. She went through everything she did and that gave me a good grounding”.
Sabrina also spoke to a well-known recruitment consultant: “She was so helpful, and she gave me the contact for the Southside Partnership, which is a not-forprofit that works in tandem with local
enterprise offices, and it helps people who are setting up their own businesses. It was invaluable in terms of knowledge and support, tax and all of the practical things about how to set up your business”.
The Southside Partnership operates in the environs of Dún Laoghaire-Rathdown County Council. For support in your area on setting up a business, contact your local enterprise office. See: www.localenterprise.ie
Personal profile
Sabrina lives in Churchtown in Dublin but is often on the go, she says: “I love travelling. I went to Japan last year and I’m planning to visit the US national parks next. I always have a book on the go; I like pathology thrillers”.
BRIDGING THE DATA GAP
PROFESSIONAL BODIES HAVE A VITAL R OLE IN BRINGING ACCURATE, INDEPENDENT DATA TO POLICYMAKERS IN THE PUBLIC INTEREST.
How can we moderate the influence of soundbites and headlines on policy decisions?
The advent of the ‘fact checker’ in politics as a distinct job is just one sign. However, in many policy areas, the data is not readily available, and those offering it may have a vested interest in the policy they want – ‘policy-based research making’. Therefore, with the public interest core to their social contract, professional bodies can bridge an important divide in data and policy.
In this context, the role of independent professional bodies like the SCSI in providing real expert data on relevant issues is vital to the Government, opposition parties, and the wider policymaker and regulatory environment.
Independence and relevance
Take, for example, the SCSI’s Real Cost series. In the ‘Real Cost of New Housing Delivery’ report, members provided data from 8,500 housing units across 80 development sites.
THE LAST WORD
Patrick King Director of Membership and Public Affairs, SCSI
Access to such data is vital to policy formulation. In addition to the uniqueness of SCSI reports, other data from official sources can take months, if not years, to be published, compared to the weeks from members’ desks to policymakers’ hands. As in this report, the data underscores the necessity for tailored policy solutions to tackle housing affordability. Relevance and timeliness are part of what SCSI members provide to their clients and, through volunteering with the SCSI, to the public. When the Cabinet discussed and agreed changes to the Government’s rental policy in 2023, the SCSI’s research and the Office of the Attorney General’s advice formed the Cabinet papers.
Professional independence is often critical to moving the most emotive policy debates forward. In the case of the Defective Concrete Block Remediation Scheme, the Minister described the role of the SCSI as critical in moving on from a political impasse. As a result of the SCSI’s independent report on rebuilding costs, the scheme for homeowners was reviewed to account for the actual construction costs.
Global credibility
Our global standing as a professional body provides policymakers with robust, comparable data. This was demonstrated recently in the
joint SCSI/Trinity College Dublin ‘Building Homes: Apartment Construction Costs in Europe’ report. Drawing from the SCSI’s global network on the CEEC (a European organisation for cost consultants), comparable construction cost data for building the same apartment in multiple cities could be assessed for the first time. In addition to those insights, the report highlighted the value of global standards (i.e., International Cost Management Standards) provided by professionals working on global best practices.
When seeking to understand the housing crisis, the OECD met with the SCSI as part of its Economic Survey of Ireland to inform its understanding as it developed international best practice policy recommendations. Additionally, the SCSI works with the Central Bank of Ireland to gather market data and forecasts on the residential property market. This requires the continued support of the members—completing surveys, joining a committee or expert group, or bringing case studies to our significant reports. The SCSI is grateful to all the members who have volunteered their time and expertise to these ends. It doesn’t just build the profession’s reputation; it is an invaluable contribution to the public good to promote informed public debate.
